RBC Wealth Management says it is making a digital pitch to female advisors to highlight the role of financial advisors and what it takes to become part of the industry. The initiative includes several documentary-style videos that show the work of the firm’s top female advisors and how they became so successful.
“Some started out as rocket scientists, Beltway politicians, or translators for the Armed Forces, while others stepped into the business directly after college,” the Minneapolis-based firm said in a press release. Together, they speak to the common theme of the initiative: ‘Everyone’s Path is Different. They All Can Lead Here.’”
Meanwhile, Raymond James launched a new publication, “Aspire to Greater,” to attract women outside of the industry to consider becoming advisors and to help them and others realize the potential that a financial-services career can bring.
“Our goal with this [biannual] magazine is really to share stories that inspire and empower women advisors, and to serve as a conversation starter to help attract more women to our industry,” the company said in a statemement. “Recognizing that there isn’t another publication quite like this out there right now, we felt this was one more way we could help move the needle on increasing the number of women in our industry.
According to Cerulli Associates, women make up about 16% of the U.S. advisor workforce, though women make up 50.8% of the total population and are set to own some $3.2 trillion of wealth in the future.
“This [new] publication is an investment in women, an ode to those who have traversed the rocky path and a source of inspiration for those taking the first steps,” explained Michelle Lynch, vice president of the Raymond James’ Network for Women Advisors, in the first issue. “It will celebrate the successes of women in the financial services industry and offer valuable insight that can help you grow your business.
Research done by the Insured Retirement Institute found that 70% of women seeking advisors say they would prefer to work with a woman.